10 Money Saving Tips
In order to get through the current recession, more people are looking for those extra ways to save a little money. Even if you are already doing a number of things to save money, there is always something that you may not have considered. These 10 tips for saving money should be helpful:
1. Rent out a room. The number one expense for most Americans is their housing. You could take on a roommate if you have a two bedroom apartment and are single. If you own a house and have an extra room, you could rent that out as well. Not only do you save on the cost of housing, but you can also split the costs of utilities.
2. Carpool and share a car. If it is at all possible to be a one car household, then it will save you a bundle. Arrange to carpool to work, which helps your coworkers save money too. You will save on auto maintenance costs, fuel, and insurance. You'll also make or free up some extra cash on the sale of your car.
3. Quit smoking. You should really quit smoking because of the health risks it poses, but if you just could not find the inspiration to quit before, quit for the money it will save you. A pack a day habit can cost about $150 bucks a month. That's money better spent elsewhere.
4. Avoid sales. It's easy to be lured in by all the supposed savings of department store sales, but if you don't need it now, keep the money for yourself. Remember, that savings of $60 is really an expenditure of $20.
5. Stay away from financing offers. Some places are offering financing for purchases that declare that you don't need to make any payments for a full year, or for two years. However, if you have not made any payments by that time, you will be charged with sky high interest rates on your purchase. It's best not to buy something you can not afford to pay for in cash.
6. Turn off your electronics. Stop paying for electricity you don't really need to use. When you are finished with using the computer, turn it off. Shut off lights when you are not in that room. Stop leaving the TV on all the time as background noise. Only turn it on if you are watching one of your favorite programs.
7. Disconnect your internet and cable service. If you really need to catch up online, you can go to a cyber cafe, or a public library. You can hang out with friends or family to see those "can't miss" tv shows. Spend the rest of your unplugged life reading books, cleaning the house, or getting out and doing some exercise.
8. Cancel the gym membership. You can get by for you workout needs by using elastic bands for resistance training. Walk or jog for more aerobic training. There's no need to pay all that money to exercise.
9. Compare your expenses. You can think of various alternatives, and chart out the costs incurred for each one. For example, make a list of how much it will cost to take the bus, versus driving. Be sure to think of all costs incurred, such as fare, fuel, parking, insurance. Choose the alternative that is least expensive.
10. Track your expenses. Keep a spreadsheet, or use an expense tracking software. By keeping an eye on where you are spending money, it will be easier to see where you can cut expenses.
If you start with these money saving tips, you will be able to find new ways to save money. If you make it a priority to stay true to keeping expenses low, you will find yourself weathering the recession just fine.
1. Rent out a room. The number one expense for most Americans is their housing. You could take on a roommate if you have a two bedroom apartment and are single. If you own a house and have an extra room, you could rent that out as well. Not only do you save on the cost of housing, but you can also split the costs of utilities.
2. Carpool and share a car. If it is at all possible to be a one car household, then it will save you a bundle. Arrange to carpool to work, which helps your coworkers save money too. You will save on auto maintenance costs, fuel, and insurance. You'll also make or free up some extra cash on the sale of your car.
3. Quit smoking. You should really quit smoking because of the health risks it poses, but if you just could not find the inspiration to quit before, quit for the money it will save you. A pack a day habit can cost about $150 bucks a month. That's money better spent elsewhere.
4. Avoid sales. It's easy to be lured in by all the supposed savings of department store sales, but if you don't need it now, keep the money for yourself. Remember, that savings of $60 is really an expenditure of $20.
5. Stay away from financing offers. Some places are offering financing for purchases that declare that you don't need to make any payments for a full year, or for two years. However, if you have not made any payments by that time, you will be charged with sky high interest rates on your purchase. It's best not to buy something you can not afford to pay for in cash.
6. Turn off your electronics. Stop paying for electricity you don't really need to use. When you are finished with using the computer, turn it off. Shut off lights when you are not in that room. Stop leaving the TV on all the time as background noise. Only turn it on if you are watching one of your favorite programs.
7. Disconnect your internet and cable service. If you really need to catch up online, you can go to a cyber cafe, or a public library. You can hang out with friends or family to see those "can't miss" tv shows. Spend the rest of your unplugged life reading books, cleaning the house, or getting out and doing some exercise.
8. Cancel the gym membership. You can get by for you workout needs by using elastic bands for resistance training. Walk or jog for more aerobic training. There's no need to pay all that money to exercise.
9. Compare your expenses. You can think of various alternatives, and chart out the costs incurred for each one. For example, make a list of how much it will cost to take the bus, versus driving. Be sure to think of all costs incurred, such as fare, fuel, parking, insurance. Choose the alternative that is least expensive.
10. Track your expenses. Keep a spreadsheet, or use an expense tracking software. By keeping an eye on where you are spending money, it will be easier to see where you can cut expenses.
If you start with these money saving tips, you will be able to find new ways to save money. If you make it a priority to stay true to keeping expenses low, you will find yourself weathering the recession just fine.
About the Author:
Michael James reviews Barack Obama collector coins and funny crisis satire at his conservative humor site.
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